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Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher prices of commodities such as coal and nickel as well as strong demand for steel products in North America.
Net profit for the three months climbed to a record 155.2 billion yen ($1.2 billion) from 107.3 billion yen a year earlier, but the company stuck to its annual profit forecast of 370 billion yen.
“Earnings from both resource and non-resource businesses have been stronger than anticipated earlier,” Sumitomo Chief Financial Officer Reiji Morooka told a news conference, adding that it may raise its profit guidance.
“On the other hand, the risk of a global economic slowdown and other uncertainties are increasing, and we will closely examine full-year forecasts going forward,” he said.
Sumitomo expects nickel production at its Ambatovy project in Madagascar to achieve its initial target of about 40,000 tonnes this financial year to March 31, after producing about 8,000 tonnes in the first quarter.
Increased oil and gas drilling activities in North America have also supported its steel pipe business in the April-June quarter and the company sees robust demand in pipes continuing through next March, Morooka said.
Asked whether Sumitomo expects any change in its business strategy in China amid rising tensions between China and Taiwan as well as China and the United States following U.S. House Speaker Nancy Pelosi’s visit to Taiwan, Morooka said no change is planned.
“It has become a major issue for us to think of how to deal with the heightened geopolitical risks triggered by not only the U.S.-China issue but also the Russia-Ukraine conflict,” Morooka said.
“We will pay close attention to the (U.S.-China) situation with high interest,” he said.
Source: Reuters
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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- New Zealand Coal & Carbon
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
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